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Good Thursday morning,
Futures are higher again with a true gap outside the prior day's range. In this area, key levels and targets will be important today.
📊 In the profile pic and key levels below, you can see the large gap above prior day's high at 6,379.50. First key level will be overnight half-back at 6,396. Any price action that stays above this level keeps the edge with the buyers, and then upper targets of 6,445 - 6,455 will be in play. Only a loss of 6,396 would we then look for a gap fill back to prior day's high and lower targets of 6,385 - 6,375, and then the POC at 6,371.
Futures are currently trading at 6,409 at the time of this writing.
🧭 VPOC Update: A VPOC was taken out yesterday at 6,374.50. We now have none above and four below current price.
Current VPOCs:
- 6,264.50
- 6,146.00
- 6,091.00
- 6,050.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,445 - 6,455
Key Levels: 6,396 Overnight 1/2 back
downside target is: 6,385 - 6,375
/NQ upside target is: 23,700 - 23,725
Key Level: 23,515 Overnight 1/2 back
downside target is : 23,450 - 23,425
/RTY upside target is: 2,270 - 2,280
downside target is: 2,235 - 2,230
Economic Data :
Jobless Claims @ 8:30 a.m. EST
Productivity and Costs @ 8:30 a.m. EST
Wholesale Inventories (Preliminary) @ 10:00 a.m. EST
Natural Gas Inventories @ 10:30 a.m. EST
More Color By : Rich Rickus
Have a great day!
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